The Transactions Listed in the Following Questions Occurred in a Private

question 69

Multiple Choice

The transactions listed in the following questions occurred in a private, not-for-profit hospital during 20X8. For each transaction, indicate its effect on the hospital's statement of operations for the year ended December 31, 20X8.
Transaction: A gain was realized from the sale of endowment investments. The gain is not expendable.
Effect on Statement of Operations:

• A) Increases operating income.
• B) Decreases operating income.
• C) The transaction is reported on the statement of operations, but there is no effect on operating income.
• D) The transaction is not reported on the statement of operations.

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Definitions:

ASC Content

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